Equities research analysts expect that Lazard Ltd (NYSE:LAZ) will post $699.72 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Lazard’s earnings, with the lowest sales estimate coming in at $694.90 million and the highest estimate coming in at $704.53 million. Lazard reported sales of $569.05 million in the same quarter last year, which indicates a positive year-over-year growth rate of 23%. The business is scheduled to announce its next earnings report on Thursday, November 4th.
On average, analysts expect that Lazard will report full-year sales of $3.03 billion for the current financial year, with estimates ranging from $2.98 billion to $3.12 billion. For the next financial year, analysts anticipate that the company will post sales of $3.09 billion, with estimates ranging from $3.03 billion to $3.13 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Lazard.
Lazard (NYSE:LAZ) last issued its quarterly earnings results on Friday, July 30th. The asset manager reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.40. Lazard had a return on equity of 57.66% and a net margin of 15.75%. The company had revenue of $821.00 million for the quarter, compared to analysts’ expectations of $658.18 million. During the same period in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAZ. First Trust Advisors LP grew its holdings in Lazard by 50.4% during the 1st quarter. First Trust Advisors LP now owns 174,111 shares of the asset manager’s stock valued at $6,292,000 after buying an additional 58,375 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Lazard by 15.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 9,118 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 1,238 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Lazard by 40.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 31,876 shares of the asset manager’s stock valued at $1,387,000 after purchasing an additional 9,158 shares during the last quarter. Roosevelt Investment Group LLC lifted its stake in shares of Lazard by 20.1% in the 1st quarter. Roosevelt Investment Group LLC now owns 29,003 shares of the asset manager’s stock valued at $1,262,000 after purchasing an additional 4,856 shares during the last quarter. Finally, Lesa Sroufe & Co lifted its stake in shares of Lazard by 1.4% in the 1st quarter. Lesa Sroufe & Co now owns 55,268 shares of the asset manager’s stock valued at $2,405,000 after purchasing an additional 750 shares during the last quarter. Institutional investors and hedge funds own 75.51% of the company’s stock.
Shares of NYSE:LAZ traded up $0.08 during midday trading on Friday, reaching $46.76. 881 shares of the company’s stock traded hands, compared to its average volume of 669,264. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 11.30 and a beta of 1.54. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.88 and a current ratio of 1.88. Lazard has a one year low of $31.16 and a one year high of $49.02. The stock has a 50 day moving average of $46.76 and a 200 day moving average of $45.65.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 20th. Stockholders of record on Monday, August 9th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend was Friday, August 6th. Lazard’s payout ratio is currently 52.22%.
Lazard Ltd. is a financial advisory and asset management firm, which engages in the provision of crafting solutions to the clients, including corporations, governments, institutions, partnerships, and individuals. It operates through the Financial Advisory and Asset Management segments. The Financial Advisory segment offers corporate, partnership, institutional, government, sovereign, and individual clients, an array of financial advisory services regarding mergers and acquisitions, restructurings, capital structure, capital raising, and corporate preparedness.
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